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Turkish Citizenship by Investment

People who do not work in Turkey but will invest in a certain amount and the condition to be determined by the President of Turkey, they and theis spouses also children under the age of 18 can gain Turkish citizenship expectionally People who obtain real estate amounting to 250.000 USD or equivalent of Turkish Lira by the Presidential Decree No:16, will be eligible for Turkish citizenship.

Citizenship Lawyer Istanbul / Turkey

Does This Situation Have Any Legal Basis?

Of course yes. Under paragraph (b) of article 20 of the Regulation on the Implementation of the Turkish Citizenship Law is the guiding. Under paragraph (b) of article 20 of the Regulation on the Implementation of the Turkish Citizenship Law: “Not to sell at least USD 250,000 or equivalent to three years to the immovable deeds in the amount of Turkish Lira or equivalent of Turkish Lira. at least 250,000 USD or equivalent amount of Turkish Lira is held from the notary that the sale of the property deposited in advance is promised, provided that the property or floor altitude is established, at least 250,000 USD or equivalent of the Turkish Lira amount. Foreign persons determined by the Ministry of Environment and Urbanization that the title registry was shaded with the commitment that the contract will not be transferred and abandoned for three years, “foreign persons can gain Turkish citizenship by the decision of the President in question.

 

What Are The Changes Made To The Law?

1- 12.01.2017-18.09.2018 purchased properties/immovable properties worth USD 1,000,000 (USD),

2- 2- Purchased/purchased after 19.09.2018, the value of immovable/immovableproperties to be purchased is worth USD 250.000,

3- After 07.12.2018, the sales promise contract is issued/issued, the value of the immovable/immovables must be worth USD 250.000.

 

Is There Any Restriction While Using This Right?

Article 35 of the Law No. 6302 and the Different Land Registry Act. The decision of the Council of Ministers in accordance with article 2012/12 (1734) by determining the citizens of 183 countries that can acquire immovable property in our country and has been announced to all directorates and integrated into TAKBİS system.

 

Is there a Designated Area Limit for People Who Want to Take Advantage of This Right?

Foreign nationals have the right to acquire immovable property up to 10% of the county facial measurements, which can be subject to private property and up to 30 hectares in our country, provided that they do not exceed the legal limitations mentioned above.

 

Can People Who Want to Take Advantage of this Right Buy Immovables in Private Security Zones?

Real foreign nationals have the right to buy the immovable properties in the “Private Security Zones” only with the permission of the governor’s office. They cannot purchase and promise to sell the remaining immovable properties in military prohibition and security zones or other areas where the acquisition of foreign real persons is prohibited.

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Can Syrian Citizens Benefit from This Right?

Syrian citizens cannot acquire real estate in our country on their behalf, and therefore, they will not be able to apply for citizenship through real estate acquisition.

 

How To Own Real Estate In Turkey?

  1. In order for foreign persons to own real estate in Turkey, a preliminary application must be made to the land registry offices first. ( https://randevu.tkgm.gov.tr/)
  2. A day is determined for the transfer of the said immovable in the continuation of the pre-application.
  3. Application documents must be ready on the designated day.

 

What Are The Application Documents?

  • Title deed certificate of the real estate
  • Passport and photocopy of the foreign buyer (with approved Turkish translation)
  • “Real Estate Fair Value certificate to be obtained from the municipality where the property is located”
  • Mandatory earthquake insurance policy for homes and businesses
  • 1 photo of the person selling (white background, biometric)
  • 2 photos (white background, biometric)
  • Sworn translator in case the buyer does not know Turkish
  • The original or certified copy of the power of attorney in case transfer transactions are carried out by proxy (Turkish translation approved if arranged abroad)

 

What Should Be The Nature Of The Immovable To Be Purchased?

There is no limitation on the nature of the real estate to be acquired through sale. In other words, it could be an immovable plot, a field or a residence. However, in the scope of circular no: 2013/15 (1752), the commitment of foreign persons to obtain pre-permits in agricultural land acquisition requests and to submit an agricultural project within 2 years is taken, while the commitment to submit a construction/building license project to the relevant municipalities or institutions within 2 years is taken.

 

Is There A Difference For Shared Real Estate?

In case the share in the real estate with shares is processed, it is necessary to issue the official note by adding “I know the existence of the legal pre-purchase right of other shareholders” and to explain this matter to the parties. These rules apply to the sales process.

 

Does This Differ In The Sales Promise?

A sale promise contract to be held at the notary public will only be possible for condominiums or Real Estates where a floor easement has been established. The independent section subject to the promised sale must be registered in the name of the promised debtor at the time of the commitment request. No commitment can be given for more than one sales promise contract in an independent division.

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Is There A Limitation For The Number Of Immovable Properties?

There is no limitation on the number of real estate to be acquired through sale or subject to the promise of sale. It is important to have the value totals sought on the dates specified in the regulation. In this context, it is possible to acquire one/more real estate from a Turkish citizen through the sale or to arrange a sale promise contract after the purchase of one/more real estate from a Turkish citizen in order to reach the amount of USD 1,000,000 or USD 250,000, or to arrange a sale promise contract.

 

What Is The Real Estate Valuation Report?

Within the scope of the regulation, an immovable valuation report showing the market value (current market value/current status value) is sought in order to benefit from the determination of the USD 1,000,000 or USD 250,000 value sought according to the date of acquisition. Immovable property valuation report, “Capital Markets Board (CMB)’s (http://www.spk.gov.tr/SiteApps/SirketIletisim/List/gds), or “association of valuation specialists of Turkey (TDUB)’s (http://www.tdub.org.tr/Web/CompanyListForm.aspx?UID=a11d0b04-de56 – 4ab0-9bb8-7c2c8863ba92) that are published on the internet pages will be taken from a real estate appraisal company.

 

Does The Valuation Report Have A Time-Out Period?

The valuation reports submitted during the application are valid for 3 months from the date they are issued and no new reports will be required for the transactions applied during this period.

 

What Information Is Included In The Valuation Report?

In the valuation report, the value of the buildings that are actually finished on the ground should be based on the value of the buildings on the date of the report, and the value of the buildings that are not actually finished or are still under construction and that have floor easement facilities should be based on the end of the building. Under the Circular No. 2019/1, it is possible to determine the value of the sale or promise of the sale below the value of the valuation report. In this context, the valuation report is not binding within the scope of the legislation in force in terms of sales price and land registry fee basis. There is no obligation to submit a valuation report in all trading transactions made by foreign persons prior to 04.03.2019. Therefore, in the sales transaction that has not received the valuation report or in the arranged sales promise contract, the valuation report (if any) arranged no more than 3 months prior to the transaction (based on the CBT effective sales rate of the last working day before the date of the report) may be based on value determination.

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What Are The Transactions Between Foreigners?

Immovable property subject to sale or sale promise;

1-foreign real persons must not register on behalf of land registry. (Including the wife and children of the foreign person to acquire)

2-the foreign real person who will acquire it must not be transferred by himself, his wife and children after 12.01.2017. However, after the transfer of the real estate registered in the name of foreign real person to the Turkish citizen/company after 12.01.2017, it is possible to acquire it for the purpose of gaining citizenship by another foreign real person.

3-the company of which the foreign real person to acquire is the partner or manager should not be registered in the Land Registry on behalf of the legal entity. Acquired Turkish citizenship through real estate acquisition and MERNIS registration “5901 No. 12 of the law on Turkish citizenship. he gained Turkish citizenship in accordance with Article B.”foreign real persons with a statement shall also be considered as foreign persons until the cancellation of their commitment.

 

Are People With Blue Cards Foreign?

Persons with blue cards who are granted permission from Turkish citizenship will not be assessed as being foreign in this context.

 

What Is The Authorization Condition For The Sale?

By proxy in the transactions, in a power of attorney with the authority to purchase; real estate or it won’t sell for three years in the contracting authority or the acquisition of Turkish citizenship law, Turkish citizenship law and related legislation in order to benefit from the that be specified against the process, there must be Authority within the framework of citizenship or naturalization.

What Is The Authorization Condition For The Sale Promise?

In case there is a statement that this contract has been made for the purpose of obtaining citizenship in accordance with Article 89 of the notary law [since it is known by the debtor of the promise (Turkish citizen/company) that the creditor of the promise (foreign real person) wants to acquire the independent section for this purpose] and other conditions, also without seeking the consent of the

In case there is no statement in the contract that the real estate is made for the purpose of obtaining citizenship, the undertaking is taken with the request of both parties for registration.

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